Stockland tenders for any and all £250 million 5.625% notes due 2013

By E. Janene Geiss

Philadelphia, Dec. 6 - Stockland Finance Pty Ltd. said it began a tender offer for any and all of its £250 million of 5.625% notes due 2013.

Pricing will be set at 9 a.m. ET on Dec. 15 using the yield to maturity of the 4.5% U.K. Treasury Gilt due 2013 plus a spread of 180 basis points. The company will pay accrued interest in addition to the purchase price, according to a company press release.

The deadline to tender the notes is 11 a.m. ET on Dec. 14, and the settlement date is expected to be Dec. 19.

Barclays Bank plc (44 207 7773 8578, attn: liability management group at eu.lm@barcap.com) is the dealer manager.

Bondholder Communications Group, LLC (44 20 7382 4580, attn: Susan Field at sfield@bondcom.com) is the tender agent.

Stockland is a Sydney, Australia-based property development and financial company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.